Unum Group (NYSE:UNM) Price Target Increased to $64.00 by Analysts at JPMorgan Chase & Co.

Unum Group (NYSE:UNM) had its target price boosted by JPMorgan Chase & Co. from $58.00 to $64.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also weighed in on UNM. Jefferies Financial Group boosted their target price on shares of Unum Group from $62.00 to $63.00 and gave the company a buy rating in a report on Friday, June 28th. Evercore ISI boosted their target price on shares of Unum Group from $56.00 to $58.00 and gave the company an in-line rating in a report on Wednesday, June 26th. Wells Fargo & Company boosted their price target on shares of Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Truist Financial boosted their price target on shares of Unum Group from $57.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley boosted their price target on shares of Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $58.56.

Unum Group Stock Performance

UNM opened at $51.48 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $9.75 billion, a PE ratio of 7.65, a PEG ratio of 1.08 and a beta of 0.81. The firm’s 50-day moving average price is $51.64 and its 200 day moving average price is $49.86. Unum Group has a twelve month low of $41.75 and a twelve month high of $54.57.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.15. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. Unum Group’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.87 EPS. As a group, sell-side analysts expect that Unum Group will post 8.25 EPS for the current fiscal year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, April 26th were paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, April 25th. Unum Group’s payout ratio is currently 21.69%.

Insider Buying and Selling

In related news, Director Timothy F. Keaney sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the sale, the director now directly owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Unum Group news, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the transaction, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy F. Keaney sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total transaction of $420,880.00. Following the transaction, the director now owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNM. Norges Bank acquired a new position in shares of Unum Group in the 4th quarter valued at $590,489,000. Nordea Investment Management AB boosted its holdings in shares of Unum Group by 51.7% in the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after buying an additional 1,008,776 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Unum Group by 583.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,025,000 shares of the financial services provider’s stock valued at $50,420,000 after buying an additional 875,000 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Unum Group by 6,498.1% in the 1st quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock valued at $34,145,000 after buying an additional 626,676 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Unum Group by 85.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,129 shares of the financial services provider’s stock valued at $41,754,000 after buying an additional 357,475 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.